Posco signs tech-sharing deal with Tata Steel Europe

Posco announced a cross-licensing agreement with Tata Steel Europe on Friday.

The deal gives the European company access to Posco’s physical vapor deposition technology, which is a way of giving steel an anti-corrosion coating while reducing emissions.

The technology, developed and patented by Korea’s largest steelmaker, has already been adopted in the electronics industry but needs further development for automotive and construction applications. The European steelmaker said the technology will help it meet the emerging need for sustainable steel products for next-generation cars and buildings, in a statement.

The Korean company expects its technology to be widely spread in Europe through the cross-licensing deal.

The deal will also enable Posco to produce Tata Steel Europe’s patented MagiZinc, a hot-dipped galvanized coating that provides enhanced corrosion protection even in harsh environments.

“This is a mutually beneficial agreement which will help both companies provide customers with access to innovative, value-added products,” said Yu Seoung, chief technology officer at Posco.

“We have experienced considerable benefits in using physical vapor deposition technology, while MagiZinc will help to bolster our offerings by providing enhanced corrosion protection.”

By Kim Jee-hee